About Business Insurance For Surveyors
As part of your role you may examine the condition of land and buildings as well as value properties. Your clients will rely on your specialist knowledge and skills to provide them with the information and findings they were hoping for. Working in this way makes it possible for clients to make claims against you should they become injured or experience financial losses as a result of incorrect advice or negligence. It is all too easy to make mistakes or even offer the wrong advice even if you believe otherwise but a claim against you can prove extremely damaging as defending claims can be costly. To ensure that you are protected from claims you need to consider business insurance.
With business insurance in place you can be sure that you are fully protected and covered for any claim made against you. The risk of a claim is high, even if you believe otherwise because stress or trying to meet deadlines can cause you to lose concentration and omit important information or even survey a property or land incorrectly. These errors could result in financial damages for your client and they would be well within their rights to make a claim against you. Business insurance will handle all costs associated with defending claims and paying compensation.
How Does It Work?
Your job is a specialist job and this means that your clients trust you fully. However, if you make an error or cause injury or financial loss you can rest assured knowing that business insurance is protecting your business.
Professional indemnity insurance is created to suit your specific needs should a client make a claim against you. Claims can be made for incorrect advice, negligence or even injury and this means that you are at risk. You could incorrectly advise a client that a property is only worth a certain amount when in fact it should be worth a lot more, this could lead to a client losing money. You could even suggest that land is safe but at a later date a client may become injured on this land. Whether it is financial loss or injury a client will want to recover any losses or claim compensation but professional indemnity insurance will cover these costs.
As you will be dealing with members of the public you have a duty to consider their safety and their property. This is where public liability is there to protect your business. You could find yourself in the roof of a house and you put your foot through the ceiling causing severe damage. A client will need to claim against you for the cost of repairing this damage and maybe even compensation. Therefore, public liability insurance is a crucial tool for your business.
Business insurance will give you the following features:
- Extensive cover against claims whether they are successful or not
- Full evaluation of claims before payment is made
- Full protection for your business
- All costs including defence costs and compensation are included
- Full understanding of your business needs to ensure the right cover is selected
- Court attendance costs included
- Regardless of your budget cover is available.
What Are the Benefits?
There are a number of benefits that come with business insurance:
- Fully compliant with legal requirements as well as industry regulations
- Focus more on your business needs
- Fully protects your finances
- Advice and representation is available
- Complete confidence in your decision making knowing that cover is available